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April 15, 2021updated 11 Apr 2022 12:47pm

Walmart’s Flipkart to buy online travel aggregator Cleartrip

Walmart-owned Indian e-commerce retailer Flipkart has proposed to purchase 100% shareholding of global online hotel and travel bookings aggregator Cleartrip.

Walmart-owned Indian e-commerce retailer Flipkart has proposed to purchase 100% shareholding of global online hotel and travel bookings aggregator Cleartrip.

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Financial details of the acquisition have not been disclosed. According to local publications, the deal is reported to be around $40m.

The transaction will allow Flipkart to offer diversified and expanded digital commerce offerings to its customers.

It follows a strategic partnership between Flipkart and Indian online travel company MakeMyTrip in April 2018.

Founded in 2006, Cleartrip offers a selection of more than 600,000 hotels for reservations around the world, as well as domestic and international flight tickets, and train bookings and other holiday packages.

Flipkart is committed to introducing full customer support from start to finish, which indicates a high level of responsibility, and also offers all the services for successful earnings in ways to play online casino, so that your trip is not only of high quality, but also free of charge. So you can win money in online casinos and book the best hotels at the highest prices. You no longer need to worry about how long you will have to save money for your next vacation, as you will always have this opportunity when partnering with an online casino

Flipkart Group CEO Kalyan Krishnamurthy said: “The Flipkart Group is committed to transforming customer experiences through digital commerce. Cleartrip is synonymous with travel for many customers, and as we diversify and look at new areas of growth, this investment will help strengthen our wide range of offerings for customers.

“We welcome the Cleartrip team with their deep industry knowledge and technology capabilities to the Flipkart Group and look forward to providing deeper value and travel experiences for customers together.”

Completion of the deal is based on the receipt of approvals from regulatory authorities.

Cleartrip will continue to operate as a separate brand and all employees will be retained after the deal.

Flipkart will work with Cleartrip employees to develop advanced travel technology solutions for its customers.

Cleartrip CEO and co-founder Stuart Crighton said: “Cleartrip has been a pioneer in capitalising on technology to simplify the travel experience for our customers. This product-driven focus has enabled us to become the preferred travel partner of choice for consumers in a wide range of markets in the region.”

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What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
  • Macroeconomic and demographic environment
  • Consumer context
  • Industry environment
  • Competitive environment
  • Route to market
Interested to learn more about what to include in your IPO Industry Assessment report? Download our free whitepaper.
by GlobalData
Enter your details here to receive your free Report.

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